After the success of the first Pwnium competition held earlier this year , Google has announced the second Pwnium competition; In this Pwnium 2, google had increased its bug bounty offering to security researchers.

This time it’s putting a total of $2 million in rewards on the table for anyone who can find bugs in its browser, exploit them, and tell Google’s security team the details of their techniques.

The Pwnium 2 will be held on Oct 10th, 2012 at the Hack In The Box 10 year anniversary conference in Kuala Lumpur, Malaysia.

Google is offering up to $60,000 for a single working Chrome exploit. While several other companies including Mozilla, PayPal and Facebook offer bug bounties, none publicly offers such a high sum.

"Exploits should be demonstrated against the latest stable version of Chrome. Chrome and the underlying operating system and drivers will be fully patched and running on an Acer Aspire V5-571-6869 laptop (which we’ll be giving away to the best entry.)"Google blog posts reads.

"Exploits should be served from a password-authenticated and HTTPS Google property, such as App Engine. The bugs used must be novel i.e. not known to us or fixed on trunk. Please document the exploit."